A host of House Republicans fired off a letter to Speaker Nancy Pelosi (D-CA) on Friday demanding that she hold Joe Biden accountable for his executive decision to hand out at least a half-trillion dollars of taxpayer money to forgive federal student debt.
Fox News published the letter signed by 94 GOP members led by Rep. Jody Hice (R-GA) that points out Pelosi’s unequivocal statement in July 2021 that Biden “‘does not have the power’ to cancel federal student loan debt. ‘That has to be an act of Congress.'”
'EXECUTIVE OVERREACH': Nearly 100 Republicans demand Pelosi hold Biden accountable for $500B student debt handouthttps://t.co/r1znBe1aaA
— Fox News (@FoxNews) August 26, 2022
Pelosi said at the time that the president “can postpone, he can delay,” but does not have the power to forgive federal student loan debt.
Hice issued a separate press statement Friday saying he is personally “demanding that Speaker Pelosi decisively act and stand by her previous statement – a direct repudiation of President Biden’s executive overreach yesterday.”
Hice said that Biden has acted as a “desperate politician” by transferring billions in debt from the people who borrowed it “onto the backs of hardworking American taxpayers.” He described the move as a “craven stunt that makes a mockery of our Constitution and the rule of law.”
The letter sent by the House Republicans told Pelosi they are concerned by Biden’s “massive executive overreach” in engaging in the blatantly illegal cancellation of the student loan debt. It also noted that the plan will inevitably lead to even higher education costs, “exacerbating the very problem President Biden pretends to address.”
The GOP members asked Pelosi to commit to supporting her previous statement about the lack of presidential authority to unilaterally forgive student debt. They tell her that Biden has “transcended the policies surrounding student loans.”
Since Biden announced the plan to forgive hundreds of billions in debt owed to the U.S., Washington has seen politicians from both parties asking questions about how the loss of revenue will be paid for and what authority Biden actually has to enact his plan.
The White House has remained silent on how the administration plans to pay for the debt cancellation. The closest that press secretary Karine Jean-Pierre has come to answering has been deflecting with flowery language about “deficit reduction.”
She said Friday that the administration has achieved what it believes will be, “by the end of the fiscal year, to be a $1.7 trillion deficit reduction.”